There is a risk-off tone to the market pre-open. S&P futures are lower by 12 points at 8:30am after the maker of the iPhone announced yesterday that does not expect to meet revenue guidance due to impact from coronavirus. The CBOE Volatility Index (VIX) is up 10% this morning and the U.S. Treasury 10-year yield is down 4 bps to 1.542%.


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